Silver Rises Over 120% YTD 
China’s central bank has approved foreign exchange purchases for commercial banks to fund increased gold import quotas, according to two sources familiar with the matter. This move comes alongside other stimulus measures, including interest rate cuts and liquidity injections, as China works to offset economic damage from the U.S. trade war. The increased gold imports could help meet growing demand for the precious metal while simultaneously slowing the yuan’s appreciation, which has been rising as investors move money out of U.S. assets. Gold recently reached an all-time high of $3,500 per ounce amid trade tensions, with China’s central bank also increasing its own gold reserves for the sixth consecutive month.
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Why Gold Spikes Every Time Hormuz Opens — And Why It Never Holds
Every time the Strait of Hormuz briefly reopens, gold spikes. Every time, it reverses. It’s happened twice since February 28 — and it’s the same mechanism both times. Here’s why the spike never holds, and what would actually change it.
April 28, 2026
